As a small business owner, have you ever made a mistake in the growth of your business? Of course—who hasn’t?! You’re definitely not alone—everyone makes mistakes, not just you! Here are five common mistakes small-business owners make when trying to grow their business.
Lack of Planning
Even for some of the most intelligent and organized people, running a business requires lots of patience, persistence, and consistence. When it comes to creating and successfully running your business—you have to have a plan! Sure, you’re passionate about your idea, but do you have a plan that will help bring those passions to fruition? Simply starting your business for fun without an executed plan will quickly result in a short-lived dream. Get a plan and make it happen!
Not Doing Research
Some business owners start their businesses simply because they’ve been told “I can see you doing that,” “that fits you” or “that’s a good idea,” but forget the importance of doing their research. Sure, the support of family and friends is a great feeling of validation, but it isn’t enough to sustain and grow as a successful business owner.
Going into a market that you have little to no knowledge on can be detrimental to your business. Many small businesses fail because they don’t understand their audience. Remember your audience is your top priority and concern—the service being provided isn’t for you, so it’s important to research who your audience is. Do lots of extensive research and even consider talking to professionals that may already be in the same business for a little advice.
No Social Media or Website Presence
We live in an internet and social media driven era. Businesses, brands and companies are incorporating their services through these platforms—it’s the new norm and if you aren’t in on it, then what are you doing?! Most of your businesses audience uses cellphones, computers, iPad’s, and tablets, so you need to find a way to connect to them from all perspectives. Having a website and social media platform is like having your business talk to your audience before you get the chance to. It’s that ‘first impression’ so you want to make sure it stands out.
Here are a few websites that you can use to help create your business webpage:
Having the Wrong Team
Hiring the wrong people to work for you can be one of the most detrimental mistakes to your business. When considering who to hire to help with your business, you want to make sure they share the same passion and interest as you do for the business, make sure they are trusted individuals who share an open line of communication with you as well.
You also never want to mix family and friends with your business. Having your family or friend work for you may result in disagreements within your business that in turn can potentially affect the relationship outside of work. Just as hiring the wrong people for your team can be a mistake, not hiring enough people is as well. You want to make sure you have enough of the right people on your team—it truly makes a difference when you surround yourself and your business with the right people, which in turn is reflected in your work.
Trying to Wear Multiple Hats
I know, I get it—you want to solely be responsible for doing absolutely everything for your business because no one can do it like you, but that’s where you’re wrong. Trying to hold multiple titles in your business can be very draining for one person to do it all. Remember, you can’t be a master at everything—sometimes there are other people that may be better at the job than you—utilize that and bring those people onto your team! You’ll be thankful you did just that!